Am I Overpaying? - 10/30/11 07:57 PM
Am I Overpaying? Is the listing overpriced? What is the house worth?
All questions, or variations of questions, most buyers ask when buying a house. They are valid questions with not easy or pat answer. The value of the home depends on your point of view.
Webster defines "value" as "a fair return or equivalent in goods, services, or money for something exchanged" or "the monetary worth of something."
Out of everything that is currently on the market: Is it the best house for you, with an asking price you would be comfortable paying? If you were assured the asking price is fair, would you … (2 comments)

Rolling Meadows Lake Orion MI- Prices Still Rising - 10/28/11 02:54 PM
Rolling Meadows Lake Orion MI- Prices Still Rising
Prices in Rolling Meadows, Lake Orion MI are still on the rise though still a major discount from the hey days of 2004 when the sale prices in Rolling Meadows ranged from $295,000-$368,000.
2011 sale prices so far range from $194,000-$260,000 with a median sale price of $225,000
2010 sale prices ranged from $164,505-$237,000 with a median sale price of $213,500
2009 sale prices ranged from $153,000-$247,000 with a median sale price of $210,000
There are currently 2 houses pending (both normal sales) with asking prices of $233,000 and $284,900 and 1 home … (0 comments)

Michigan Foreclosures- New Buyer Fee to Consider - 10/26/11 01:35 PM
Michigan Foreclosures- New Buyer Fee to Consider
It is customary in Michigan real estate transactions for the seller to pay the transfer tax- both state and county- to the tune of .86 of a per cent of the sale price. Bank owned homes backed by Fannie Mae and Freddie Mac have been exempt from this fee until now. Fannie and Freddie are refusing to pay this fee and passing it on to the buyer and this includes sales that are currently pending.
A little background:
Up until now Freddie and Fannie have been exempt from this cost which is not exactly … (1 comments)

Will They Sell on Land Contract? - 10/05/11 04:30 PM
Will They Sell on Land Contract?
Would YOU give title to a 6 figure asset to someone with your credit history?
I don't mean to sound snarky, but I probably get 2-3 inquiries a week asking about land contract terms. The call usually goes something like this:
Caller: Will the seller at X address consider land contract terms?
Me: How much downpayment do you have and how long of a term are you looking at?
Caller will usually have somewhere between 2 payments to 10% on the high side.
Me: Why don't you want to get a mortgage?
Caller will usually … (0 comments)